Long Island Lighting Company v. Barbas
779 F.2d 793 (2d Cir. 1985)
Nature of the Case
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Facts
The management of P was involved in a proxy fight with a group of shareholders (Ds) who were trying to take over the company. Ds placed ads in newspapers that were critical of management. The managers of the company claimed that this ad fell under the proxy solicitation rules. The managers also claimed that the newspaper ads were illegal because they were false and misleading, thus violating proxy rules. The district court held that the ads were not proxy solicitations.
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